Guideline Value for Kavarai Street

Kavarai Street guideline value

The current guideline value of Kavarai Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Kavarai Street has changed

The guideline value for Kavarai Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which was increased to Rs 1,500 per sq.ft in 2023. The most recent 2024 revision has further raised the guideline value to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 59%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for Kavarai Street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for the area is Rs 2,200 per sq.ft, placing Kavarai Street's 2024 figure below this median.

• Kaveri Street(ICF colony): Rs 2,400 per sq.ft (2024)
• Kaviya Garden Dream Homes: Rs 1,105 per sq.ft (2024)
• Karunanidhi Street: Rs 1,600 per sq.ft (2024)
• Kannathasan Street: Rs 1,600 per sq.ft (2024)
• Krishnan salai(ICF): Rs 2,400 per sq.ft (2024)
• Kalyani Industrial Estate: Rs 3,601 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavarai Street?

Kavarai Street falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in the registration process when buying or selling property in 5. Athipattu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a fair value.

When a property is sold, the guideline value helps in assessing the appropriate taxes due, as it serves as a benchmark for the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Kavarai Street?

The current guideline value of Kavarai Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 59%.

What are the other streets in 5. Athipattu?

Other streets in 5. Athipattu include Kaveri Street, Kaviya Garden Dream Homes, Karunanidhi Street, Kannathasan Street, Krishnan salai, and Kalyani Industrial Estate, each with their respective guideline values for 2024.

What is the registration fee for a property in Kavarai Street?

The registration fee for a property in Kavarai Street is calculated based on the guideline value. For example, for a property valued at Rs 16,00,000, the registration fee would be Rs 32,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Kavarai Street?

The Sub Registrar Office covering Kavarai Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.